Citizens Financial Group (NYSE:CFG) Given New $54.00 Price Target at Truist Financial

Citizens Financial Group (NYSE:CFG) had its target price increased by Truist Financial from $49.00 to $54.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Other equities research analysts have also issued reports about the company. DA Davidson raised their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Compass Point raised their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup raised their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Royal Bank of Canada raised their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Trading Up 1.7 %

Shares of CFG opened at $48.34 on Tuesday. The business’s 50-day moving average price is $45.66 and its 200 day moving average price is $42.79. The stock has a market capitalization of $21.30 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.41 and a beta of 1.10. Citizens Financial Group has a 1-year low of $30.24 and a 1-year high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1,962,330 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Citizens Financial Group’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Analysts expect that Citizens Financial Group will post 3.85 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 3.48%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

Institutional Investors Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFG. Wellington Management Group LLP increased its position in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after buying an additional 5,579,313 shares during the period. AQR Capital Management LLC increased its position in Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares during the period. State Street Corp increased its position in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares during the period. Assenagon Asset Management S.A. increased its position in Citizens Financial Group by 85.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after buying an additional 942,662 shares during the period. Finally, Bank of Montreal Can increased its position in Citizens Financial Group by 51.1% in the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after buying an additional 894,322 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.